California Gold Mining Inc. (“California Gold” or the “Company”;
CGM - TSXV) is pleased to announce results from its ongoing
preliminary metallurgical test program at the laboratories of
Inspectorate Metallurgical Division of Bureau Veritas Commodities
Canada Ltd. (Inspectorate) in Richmond, BC where samples of both
oxide and sulphide mineralized zones were processed from its
100%-owned flagship Fremont property (the “Property” or “Fremont”)
in Mariposa County, California.
The Preliminary Economic Assessment (PEA) level test-work was
performed on the following three metallurgically significant
mineralization types identified on the Property:
- Quartz-Hosted Mineralization
(QTZ)
- Sulphide Replacement Mineralization
(SRM)
- Oxide Cap Mineralization
(OXC)
Based on the Company’s review of the historic work performed on
the project by previous operators, and an analysis of the drill
core produced during the Company’s recently concluded Phase I and
Phase II drill programs, it is estimated that the QTZ, SRM and OXC
mineralization types represent approximately 40%, 50% and 10% of
the mineralized zone at the Pine Tree-Josephine deposit by
estimated tonnage, respectively. Highlights from the batch
metallurgical testing are as follows:
- Gold concentrate grade of 139 g/t
(4.5 oz/t) and recoveries of 93.6% achieved through a
combination of gravity and flotation for QTZ composite sample.
- Gold concentrate grade of 58 g/t
(1.9 oz/t) and recoveries of 85.6% achieved through a
combination of gravity and flotation for SRM composite sample.
- Gold recoveries of 93% achieved over
10 days through a coarse bottle roll cyanide leach test on a
minus 25mm (~1 inch) OXC composite sample.
Locked cycle tests using a combination of gravity and flotation
techniques are expected to further improve grades and/or recoveries
on the SRM and QTZ composites.
The Company’s Interim President & CEO, Mr. Chad Williams
states, “We are delighted that to-date the results of the
metallurgical test-work have exceeded our expectations in terms of
the oxide leach recoveries, the sulphide concentrate recoveries and
the sulphide concentrate grades. Furthermore, since this is just
the first phase of metallurgical testing, we hope to fine-tune the
test parameters and work towards enhancing these initial results in
subsequent phases.”
Mr. Williams also adds, “The excellent gold recoveries and the
high-grade nature of the sulphide concentrates indicate that a
combination of gravity and flotation offers a technically viable
processing option for both the QTZ and SRM mineralization present
at Fremont. In addition, the high gold extraction rate achieved
through the coarse bottle roll cyanide leach test indicates
excellent heap leach potential for the OXC component of the
mineralization at Fremont.”
Further results from the metallurgical testing shall be released
when they are received. As announced on July 28, 2014, the Company
is conducting a property-wide surface geological mapping program at
Fremont, at the completion of which, the first detailed geological
map of the property shall be compiled. The Company’s management
team views this mapping program as a critical step in identifying
the full mineralization potential for the entire land package, and
delineating additional targets for future exploration.
Summary Results of the Metallurgical Test Program
This PEA-level metallurgical test program was designed by the
Company’s Vancouver-based metallurgical consultant BOMENCO (Bolu
Mineral Engineering & Consulting) Inc., with the objective of
developing a precious metals recovery process for the various
metallurgical mineralization prevalent at the Fremont Property. The
test-work was conducted on three split drill core composite samples
from the Company’s recently concluded Phase II drill program and
included the following major investigations.
Head Sample Analysis
Representative head samples of the three
composites were analyzed and the analysis for the elements of prime
interest is listed below:
Element Unit
OXC QTZ SRM
Gold g/t 2.19
3.74 2.79
Silver
g/t 1.5 1.2 1.4
Sulphur %
0.02 0.86 1.88
Comminution Tests
Samples from the SRM and QTZ composites were tested for hardness
using the Bond Ball Mill Work Index test. The results at 12.3
kWh/tonne and 14.3 kWh/tonne for the SRM and QTZ samples,
respectively indicate that the two mineralization types are
medium-soft to medium in hardness.
Coarse Bottle Roll Cyanide Leach
Tests
A 10-day bottle roll cyanide leach test on a 50kg minus 25mm (~1
inch) OXC composite sample was conducted. Results indicated that a
gold recovery of 93%, and a silver recovery of 75%, was achieved.
The leach kinetics plot indicated that higher recoveries may be
achieved for residence times longer than 10 days. The results
indicate that there is good heap leach potential for the OXC
composite materials and in order to further investigate the heap
leach characteristics, further testing such as a column heap leach,
will be considered.
Flotation Tests
Batch rougher kinetics flotation tests using conventional
flotation conditions and reagents were conducted on the SRM and QTZ
composite samples at grind sizes of 80% passing 150 and 75 microns.
The variation in grind size appeared to have minimal effect on the
metallurgy or concentrate grade and recovery.
Batch rougher-cleaner flotation tests conducted on the two
composite samples at a primary grind size of 80% passing 150
microns and a target regrind size of 35 microns indicated that
overall third cleaner concentrate recovery for the SRM composite
sample was 69% at a concentrate grade of 71 g/t gold, while the QTZ
composite sample showed an overall third cleaner recovery of 80%
for a cleaner concentrate grade of 214 g/t gold.
Gravity Tests
Gravity concentration tests were conducted on both SRM and QTZ
composites using a laboratory centrifugal gravity separator at a
grind size of 80% passing 150 microns. The results for the QTZ
sample showed that a gravity cleaner concentrate recovery of 36%
was achieved at a cleaner concentrate grade of 786 g/t (>25
oz/t) while a projected 50% of the gold was potentially recoverable
into a cleaner gravity concentrate assaying ~310 g/t (~10 oz/t).
The SRM sample showed a 13% gold recovery at a cleaner concentrate
grade of 225 g/t (>7 oz/t) while a projected 30% of the gold was
potentially recoverable into a cleaner gravity concentrate assaying
150 g/t (~5 oz/t).
Combination of Gravity & Flotation
Tests
The SRM and QTZ composite samples were each ground to 80%
passing 150 microns and subjected to a rougher-cleaner flotation
preceded by a scalping centrifugal gravity separation stage where a
cleaner gravity concentrate and a gravity tailings product were
produced. A rougher-cleaner flotation test was subsequently
conducted on gravity tailings using a target regrind size of 80%
passing 30 microns.
The SRM composite sample achieved a combined gold recovery of
85.6% between the cleaner gravity concentrate and third cleaner
flotation concentrate at a weighted average gold grade of 58 g/t
(1.9 oz/t). The corresponding silver recovery for the combined
concentrate was 69% at a grade of 30 g/t (1 oz/t). The gravity
concentrate gold recovery was 7% at 230 g/t (>7.4 oz/t).
The QTZ composite sample achieved a combined gold recovery of
93.6% between the cleaner gravity concentrate and cleaner flotation
concentrate at a weighted average gold grade of 139 g/t (4.5 oz/t).
The corresponding silver recovery for the combined concentrate was
76% at a grade of 71 g/t (2.3 oz/t). The gravity concentrate gold
recovery was 39% at 1,636 g/t (52.6 oz/t).
About California Gold Mining Inc.
California Gold Mining Inc. (formerly Upper Canada Gold Corp.
TSX-V:UCC) is focused on exploring and then developing its flagship
Fremont gold project in Mariposa County, California. The project
consists of a land package totaling 3,351 acres of historically
producing gold mines. The Fremont Property lies within California’s
prolific Mother Lode Gold Belt that has produced over 50 million oz
of gold historically. The Company purchased the property in March
2013.
Qualified Persons (QPs), as defined under National Instrument
43-101 regulations, who are responsible for the technical content
of this press release are as follows:
Metallurgical Content: Mr. H.M. Matt Bolu, Principal
Metallurgical Engineer of BOMENCO Inc., and the Company's
metallurgical consultant, who is a P.Eng. registered with the
Association of Professional Engineers and Geoscientists of BC
(APEGBC).
Geology and Other Content: Mr. Vishal Gupta, the Company's Chief
Operating Officer who is a P.Geo. registered with the Association
of Professional Geoscientists of Ontario (APGO).
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of California Gold contains statements that
constitute “forward-looking statements”. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause California Gold's actual results,
performance or achievements, or developments in the industry to
differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Forward-looking statements in this document include
statements regarding planned exploration work on the Company’s
Fremont Property, and the timing of the receipt of metallurgical
test results by the Company as well as whether results can be
released. There can be no assurance that such statements will prove
to be accurate. Actual results and future events could differ
materially from those anticipated in such statements, and readers
are cautioned not to place undue reliance on these forward looking
statements. Any factor could cause actual results to differ
materially from California Gold's expectations. California Gold
undertakes no obligation to update these forward looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change, unless otherwise required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information contact:
Vishal GuptaChief Operating Officer647-977-9267 x333
Website: www.caligold.ca
California Gold Mining Inc.Vishal Gupta, 647-977-9267 ext.
333Chief Operating Officerwww.caligold.ca
California Gold Mining Inc. (TSXV:CGM)
Historical Stock Chart
From Jun 2024 to Jul 2024
California Gold Mining Inc. (TSXV:CGM)
Historical Stock Chart
From Jul 2023 to Jul 2024